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All Forum Posts by: Robert Crocker

Robert Crocker has started 2 posts and replied 11 times.

Post: PICKLE BALL COURT

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0

A Pickleball court is a great perk.  The proof is in the data.... It's the fasted growing sport in America.  There's also "big brand" money being investment into the PPA and MLP.  This sports here to last.  My personal experience is that anytime I go to any pickleball court to play, there are always dozens of people playing.  Typically the courts are full.  Lastly, there are a few other sports that can use that same court, which allows you to adjust as needed.

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @Leslie Anne Morris:

I just switched most of my properties over to Erie.  


Thank you for that feedback, I'll absolutely look into Erie.  Hope to connect!

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @Dennis Smith:
Quote from @Robert Crocker:
Quote from @Andrew Steffens:
Quote from @Robert Crocker:

Hey guys,

Any suggestions on the top STR insurers? I need a minimum of 1M in liability to meet city requirements?

Thanks!


It depends on your location often. I am in FL and since the storms of last year it has been very hard to find. To add to the ones above you can check out Kin (they are the only ones currently writing wind in FL). Make sure you are insured for STR not LTR or owner occupied

Thank you! Location is in Encinitas CA. Not in fire zone, close to beach. Weather should be straight forward for underwriting. 

I just got insurance from Badiner Insurance (Farmers) in Carlsbad for my MTR (they called it an STR). Call Keith at (858)232-2223 and let him know Dennis snet you.


Thanks Keith, I'll look into that as well.  Appreciate your feedback.  How is the MTR in north county going thus far?

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @Michael Baum:

I am also a Proper customer and it is the most expensive but it offers coverage that others don't. Things like 50k for lost revenue, coverage when the guests are away from the house, that sort of thing.

I carry 2m in general liability along with actual repair/replacement cost at $350/sqft. That is about $50 over our area's mid/upper end.

I also have a 5m umbrella.

Appreciate that feedback and your experience. Will look into the minimum required coverage vs the ideal coverage per my property and what I’m planning to do. Thank you! 

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @Andrew Steffens:
Quote from @Robert Crocker:

Hey guys,

Any suggestions on the top STR insurers? I need a minimum of 1M in liability to meet city requirements?

Thanks!


It depends on your location often. I am in FL and since the storms of last year it has been very hard to find. To add to the ones above you can check out Kin (they are the only ones currently writing wind in FL). Make sure you are insured for STR not LTR or owner occupied

Thank you! Location is in Encinitas CA. Not in fire zone, close to beach. Weather should be straight forward for underwriting. 

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @Sarah Kensinger:

Proper Insurance offers that much and possibly more.


 Appreciate the feedback Sarah! I'll check into Proper INS.

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @John Underwood:

This has been asked and answered many times. 

Proper, Foremost and Cbiz.


 I'm sure it has John.  Thanks for your suggestions.

Post: Short-Term Rental Insurance

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0

Hey guys,

Any suggestions on the top STR insurers? I need a minimum of 1M in liability to meet city requirements?

Thanks!

Post: How do I acquire this property from my Neighbor?

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Quote from @Bryan Devitt:

Buy it and lease it back to him so that he is responsible for the overhead as if he owned it still (taxes, utilities, maintenance, etc). Once he dies, it doesn't matter what he said, his family will put it on the market and it will go to the highest bidder. 

Thanks for your feedback Bryan.  I've thought about this, and it seems like a very solid play from the feedback I've received thus far.

Post: How do I acquire this property from my Neighbor?

Robert Crocker
Posted
  • Investor
  • Encinitas, CA
  • Posts 11
  • Votes 0
Thank you for taking the time to reply Joe.

In regards to a Life Estate, can this be constructed with a non family member aka neighbor? Also, thinking through this "lens" of a life estate, is there an alternate route that has the same outcome of me getting first right to purchase at a predetermined amount?


1) Yes, it's free and clear.
2) A) Yes, I'd like to be first in line before the line even begins.  B) Yes, I do have a purchase price in mind that my neighbor and I have discussed.  C) Good question.  I'm not necessarily concerned due to this specific neighborhood, school zones, average per capita income levels etc.  But Ideally I'd like to construct the deal so that even if the market did drop, my monthly expenses could be covered with the income the property would produce and at the very least break even. 
3) What do you specifically mean by "an option to buy"?  How does this look and or how is this created?
4) NA, but I can find out.  I do know, that I definitely don't want to deal with the probate courts.  Not willing to deal with that. What if the family doesn't want to sell it to me?  My thought here is, how do I secure this before his passing...

Thank again, very much appreciate your thought here.